Revolve Group (NYSE:RVLV) Stock Price Down 16% – What’s Next?

Revolve Group, Inc. (NYSE:RVLV)’s share price dropped 16% during mid-day trading on Thursday . The stock traded as low as $18.63 and last traded at $18.85. Approximately 170,529 shares changed hands during trading, a decline of 84% from the average daily volume of 1,045,655 shares. The stock had previously closed at $22.43.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RVLV shares. Roth Mkm reissued a “buy” rating and set a $36.00 target price (up previously from $35.00) on shares of Revolve Group in a research report on Wednesday, February 26th. BMO Capital Markets lifted their price target on Revolve Group from $15.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Barclays increased their price objective on shares of Revolve Group from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus cut their price target on Revolve Group from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, KeyCorp raised shares of Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.53.

Revolve Group Price Performance

The stock’s 50-day moving average is $26.85 and its 200-day moving average is $29.12. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.48 and a beta of 2.25.

Insiders Place Their Bets

In other Revolve Group news, CEO Michael Mente sold 69,605 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $29.77, for a total value of $2,072,140.85. Following the sale, the chief executive officer now owns 73,000 shares in the company, valued at approximately $2,173,210. This trade represents a 48.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Karanikolas sold 12,566 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $25.94, for a total transaction of $325,962.04. Following the completion of the transaction, the chief executive officer now owns 123,000 shares of the company’s stock, valued at $3,190,620. This trade represents a 9.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 372,373 shares of company stock worth $11,268,499 over the last quarter. 46.56% of the stock is owned by corporate insiders.

Institutional Trading of Revolve Group

A number of hedge funds have recently bought and sold shares of the stock. Castlekeep Investment Advisors LLC bought a new position in shares of Revolve Group in the fourth quarter valued at about $65,000. Neo Ivy Capital Management acquired a new stake in shares of Revolve Group in the fourth quarter valued at about $156,000. Castleark Management LLC bought a new position in shares of Revolve Group in the 4th quarter valued at about $4,488,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Revolve Group by 25.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,920 shares of the company’s stock valued at $3,313,000 after purchasing an additional 19,965 shares during the period. Finally, Woodline Partners LP bought a new position in Revolve Group during the 4th quarter worth $6,477,000. 67.60% of the stock is owned by institutional investors.

About Revolve Group

Revolve Group, Inc operates as an online fashion retailer for millennial and generation z consumers in the United States and internationally. The company operates in two segments, REVOLVE and FWRD. It operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands.